Snyder

JANUARY 10, 2023

What are the peculiarities of bookkeeping for small businesses? Double-entry bookkeeping, transaction recording, reconciliation, getting invoices paid and bills covered – the entire process is centered around making sure that your bank account is in balance with your books records. You record transactions in your books.

Account 59

Account accountant accounted bookkeeping 59

inDinero Accounting

JUNE 29, 2023

On the accounting side, GAAP requires specific methods for recording transactions, such as double-entry bookkeeping, which involves debiting one account while crediting another in order to maintain accuracy in recording data. It is estimated that over $2 trillion in short-term liabilities are accrued by businesses each year.

accrual accounting 98

accrual accounting accounting principles accounts payable accounting standards 98

Snyder

JUNE 20, 2022

A little example to illustrate how the double-entry method works. Imagine you have a retail business selling different goods online. Following the double-entry accounting method, you need to record the sale amount in your cash account as an increase (or debit) and as a decrease (or credit) in your inventory account.

accounting basics 52

accounting basics general ledger Account accountant 52

Snyder

JANUARY 3, 2023

Single-entry bookkeeping vs. double-entry bookkeeping. The single-entry method suggests entering each transaction only once. It’s a rather simple method of bookkeeping that doesn’t provide for your inventory, for example. Learn more about accounting for a retail store.

accounting basics 52

accounting basics basic accounting bookkeeping Account 52